03
play

03 ZINC PERFORMANCE 20 04 FINANCIAL ANALYSIS 23 Univentures - PowerPoint PPT Presentation

Dec 05, 2023 •583 likes •842 views

CONTENT 01 COMPANY OVERVIEW 03 02 REAL ESTATE 08 PERFORMANCE 03 ZINC PERFORMANCE 20 04 FINANCIAL ANALYSIS 23 Univentures Public Company Limited 2 LRK UVC UVAM EV UVRM 201 5 HIGHLIGHT Diversified Residential Real Estate Focus

  2. CONTENT 01 COMPANY OVERVIEW 03 02 REAL ESTATE 08 PERFORMANCE 03 ZINC PERFORMANCE 20 04 FINANCIAL ANALYSIS 23 Univentures Public Company Limited 2

  3. LRK UVC UVAM EV UVRM

  4. 201 5 HIGHLIGHT Diversified Residential Real Estate Focus 2015 Revenue(F) Portfolio Low-rise : High-rise 48% yoy 90% 70%: 30% 2015 Secured Revenue H1’15 Pre -sale H1’15 Transfer Real estate-for Sale 84% yoy 44% yoy 83 % Loan Repayment Strong OCC Rate Lower IBD/E (after REIT) PKV:SSQ (after REIT) 1.00 6,400 MB 100%:92% 4 Univentures Public Company Limited

  5. BUSINESS STRUCTURE 2006 Move to Real Estate Development Segment 1995 Renamed to 2007 Adelfos acquired 66% Univentures PCL. of UV shares 1999 Expand to Real 2014 Goldenland Acquired 2008 Acquired 60% of Grand Estate Development 100% of KLAND shares U shares Sector 2001 - 2005 1980 - 1990 2011 - 2012 2015 1991 - 2000 2006 - 2010 2013 - 2014 2011 Completed the Park 1980 Established Uni-Thai 2001 Acquired 33% of Ventures Ecoplex Project Oxide Company Grand U shares 2012 Acquired 100% of Grand 1988 Listed to SET in the U shares Petro chemical Acquired 50.64% of Segment Goldenland shares Univentures Public Company Limited 5

  6. MILESTONE LISTED in 1988 1,911.9 million shares (par THB 1 / share) Market cap = Approx.THB 16.73 Billion Free float = 33.99% Property Zinc Oxide Other 100% 100% UVC Sales Rent Property development & Consulting Zinc Oxide 100% 100% UVAM 99.99% SIRI Apartment, Property Mgt Services High-rise Car park system, Time record 100% LRK 79% EV Park Ventures Office and Victor Club Energy Saving Consulting Services LISTED in 1994 55.73% 1,6387.0 million shares (par THB 1/0 share) Low-rise Market cap = Approx.THB 11.06 Billion Free float = 19.29% 100% Low-rise Univentures Public Company Limited 6

  7. BUSINESS STRUCTURE Others 160 1% Others Zinc 124 1,220 1% 9% For Sale (High-rise) Others Zinc For Rent 3,500 80 1,243 1,520 26% 1% 14% 2015 11% For Sale (A+F) Zinc (High-rise) 1,057 2014 3,414 For Rent 18% 37% 1,274 47.91 % 2013 14% 5 0 . 0 3 % For Sale (High- 13.22 % rise) For Rent 3,123 1,201 51% 20% For Sale For Sale For Sale (Low- (Low-rise) (Low-rise) rise) 7,100 3,072 622 34% 53% 10% 9,126.9 MB 13,500.0 MB 6,083.4 MB Univentures Public Company Limited 7

  8. REAL ESTATE PERFORMANCE PROPERTY FOR SALE

  9. 2015 ACTIVE PROJECT As of August 2015 Project Pre-Sale Available For Brand No Projects No. of Units Transferred (MB) Backlog (MB) Value (MB) (MB) Sales (MB) High - rise Condo U 3 1,202 2,543 2,175 368 1,947 228 U Delight 5 4,216 10,475 4,969 5,506 2,245 2,724 U Delight Residence 1 1,030 3,718 2,220 1,498 - 2,220 High – rise (Total) 9 6,448 16,736 9,364 7,372 4,192 5,172 Low - rise Golden Legend 1 17 410 410 - 357 53 Golden Avenue 1 418 1,380 978 402 899 79 Golden Village 1 186 1,108 604 504 544 60 Golden Town 6 1,602 5,096 3,313 1,783 2,276 1,037 Gold Prestige 2 243 2,470 609 1,861 467 142 KLAND 12 1,749 16,885 6,821 10,064 6,446 375 Low – rise (Total) 23 4,215 27,349 12,735 14,614 10,989 1,746  SOLD rate – Cumulative sold rate is 50% ( high rise at 56% and low rise at 47%).  Transfer & Backlog — Cumulative transfer rate is 34%. Total backlog is 6,918 MB mainly from high-rise 5,172 MB and from low-rise 1,746 MB 9 Univentures Public Company Limited

  10. NEW PROJECT HIGH RISE U DELIGHT RATCHAVIPHA Project Value 2,138 MB QUARTER 1 QUARTER 2 QUARTER 3 QUARTER 4 LOW RISE GOLDEN TOWN SUKSAWAT- GOLDEN TOWN LADPRAO-KASET GOLDEN TOWN NGANWONGWAN- GOLDEN CITY PINKLAO- PUTTABUCHA KAERAI CHARAN SANITWONG Project Value 563 MB Project Value 5 99 MB Project Value 1, 206 MB Project Value 1,783 MB GOLDEN TOWN ONNUT- GOLDEN PRESTIGE EKACHAI- GOLDEN CITY ONNUT- PATTANAKARN PATTANAKARN WONGWAEN Project Value 326 MB Project Value 1,035 MB Project Value 1,274 MB GOLDEN TOWN RAMKHAMHAENG- GOLDEN NEO ONNUT- PATTANAKARN WONGWAN Project Value 681 MB Project Value 567 MB GOLDEN VILLAGE ONNUT- PATTANAKARN Project Value 1,272 MB THE GRAND RAMA II-BLISS GOLDEN TOWN BANGNA ONNUT Project Value 1,284 MB Project Value 1,061 MB GOLDEN NEO - RAMA II Project Value 733 MB 10 Univentures Public Company Limited

  11. TRANSFER OVERVIEW High rise 63% 3% 13 9 % 3,500 3,414 3,123 10,600 1,659 695 3,500 FY 13 FY 14 FY 15 6M 14 6M 15 6,486 (Target) 131% Low rise 7,100 64% 3,745 3,414 3,072 7,100 3,059 4,649 1,863 622 3,123 1,948 3,072 2,451 1,111 622 FY 13 FY 14 FY 15 6M 14 6M 15 FY 13 FY 14 FY 15 (Target) (Target) Total H1 ’ 15 Transfer is 4,713 MB , or 84% yoy. Low – rise High – rise Low-rise Target High-rise Target GOLD KLAND 11 Univentures Public Company Limited

  12. PRE-SALES OVERVIEW High rise 14% 1 27 % 5,300 49% 4,635 15,900 3,739 2,819 1,445 5,300 FY 13 FY 14 FY 15 6M 14 6M 15 (Target) 346% Low rise 10,600 7,010 330% 4,154 10,600 4,635 7,300 3,917 2,375 3,739 911 2,586 415 3,300 2,375 1,330 415 FY 13 FY 14 FY 15 6M 14 6M 15 FY 13 FY 14 FY 15 (Target) (Target) Total H1’15 Pre -sales is 5,362 MB, or 44% yoy. Low – rise High – rise Low-rise Target High-rise Target GOLD KLAND

  13. TRANSFER & BACKLOG - HIGH RISE 49% 1,025 992 823 3% 665 4,342 4,100 2M 3,500 3,414 60% 3,123 628 Q1-15 Q2-15 Q3-15 Q4-15 1,215  High-rise revenue in year 2015 is forecasted at 3,500 or 3% yoy. 6M  H1’15 actual transfer is 1,657 MB, or 47% of target 1,657 revenue.  High-rise revenue in year 2016 is more secured via backlog in amount of 4,342 MB FY 13 FY 14 FY 15 FY 16 Transfer (Actual) Backlog Target Univentures Public Company Limited 13

  14. TRANSFER & BACKLOG - LOW RISE 28% 2,376 131% 1,721 1,665 1,338 7,100 2M 60% 2,717 Q1-15 Q2-15 Q3-15 Q4-15 3,072 1,324  Low-rise revenue in year 2015 is forecasted at 7,100 or 131% yoy. 622  H1’15 actual transfer is 3,059 MB, or 43% of target 3,059 revenue. FY 13 FY 14 FY 15 Transfer (Actual) Backlog Target Univentures Public Company Limited 14

  15. REAL ESTATE PERFORMANCE PROPERTY FOR RENT

  16. PERFORMANCE - PROPERTY FOR RENT 99% 99% 100% 100% 100% 100% 100% 99% 98% 95% 87% 891 901 900 886 874 846 43% 860 818 843 842 841 799 FY 12 FY 13 FY 14 FY 15 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 95% 95% 86% 78% 78% 76% 75% 74% 73% 75% 747 740 64% 738 736 720 48% 707 678 672 669 666 654 630 FY 12 FY 13 FY 14 FY 15 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 Univentures Public Company Limited 16

  17. GOLDEN VENTURES LEASEHOLD REIT PARK VENTURES ECOPLEX SATHORN SQUARE : M.L. Suthada Kasemsant Crown Property Bureau Land Ownership 5-0-36.2 Rai 5-0-60.32 Rai : Lert Rattakarn Crown Property Bureau Building Ownership : 26 , 313 sqm (excludes Okura) 73,181 sqm Net Leasable Area : Approx. 2 6 years Approx. 25 years Investment Period : Approx. 99% Approx. 96% Occupancy : 881 Baht / sqm / month 749 Baht / sqm / month Average Rental : North Sathorn Realty North Sathorn Realty Property Manager TARGET ACQUISITION PRICE: THB 10 BILLION 17 Univentures Public Company Limited

  18. REIT Growing Demand Super Prime Location Office Building in CBD Limited Supply of Prime office in CBD ARR Growth Potential Quality Tenants Growth Opportunity in Strong Sponsor Support Office REIT Managed by Experienced Property Manager Univentures Public Company Limited 18

  19. GOLDEN VENTURES LEASEHOLD REIT GVREIT FILING TIMELINE AUG 2015 SEPT 2015 OCT 2015 NOV 2015 DEC 2015 JAN 2016 FEB 2016 Submitted SEC SEC Site SEC - RM GVREIT Conf Call Visit Interview Filing 30 Sep 19 Oct 15 21 Sep 15 27 Aug 15 15 120 days to review filing documents and site visit 45 days to Latest Approval Date 8 Feb 16 approve filing Sell to Investors 19 Univentures Public Company Limited

  20. ZINC PERFORMANCE

  21. INDUSTRY PROSPECT- ZINC 62% 60% 58% 17% 52% Others 4% 17% 28,000 28,000 28,000 28,000 Export 7% 17,309 16,727 16,200 14,636 7% 9% 39% FY 12 FY 13 FY 14 FY 15 (Target) Sales Volume Market Volume Market Share  Weakened Chinese and South East Asia Economy growth affect weak demand of Zinc.  Forecast 2015 LME is 1,990 USD, increasing due to major New Customers : supplier plan to shut down some production line. While 2016 LME is forecasted higher than 1,900 USD due to decreasing zinc supply. 21 Univentures Public Company Limited

  22. PERFORMANCE - ZINC 2,600 97% 92% 91% 91% 2,400 2,200 18,100 18,090 1,990 2,000 16,695 16,542 16,528 17,100 17,100 1,900 1,800 15,547 1,810 1,600 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2014 2015 2016 17,309 16,727 16,200 14,629 FY 12 FY 13 FY 14 FY 15 (Target) Production Capacity %Utilization 82% 75%  Plan to maintain this production capacity. 84% 88%  Target Revenue is 1,220 MB, or 16,200 MT. Main revenue is from local 82% and 18% export.  Plan to improve profit margin: 25% 18%  New furnace machine- energy saving 2MB/month 16% 12%  Diversify customer that create higher GP FY 12 FY 13 FY 14 FY 15 (Target) Domestic Oversea 22 Univentures Public Company Limited

  23. FINANCIAL ANALYSIS

Recommend

More recommend